PALM BEACH, Florida, August 8, 2017 /PRNewswire/ --
The legal marijuana market is currently being dominated by public companies with solid financial resources as top players look to sustain long-term growth in the industry on some level. As a growing part of the U.S. moves towards some level of cannabis legalization, the development of CBD-based products alone is gaining momentum as consumer demand skyrockets. Active companies in the market this week include: PotNetwork Holding Inc. (OTC: POTN), 22nd Century Group Inc. (NYSE: XXII), Amfil Technologies Inc. (OTC: AMFE), Grow Condos Inc. (OTC: GRWC) and Cannabis Science Inc. (OTC: CBIS)
PotNetwork Holding Inc. (OTC: POTN) News: With Sales Exceeding $320,000.00 at the Las Vegas ASD Market Week Event, PotNetwork Subsidiary Diamond CBD Continues Strong Record Breaking Trend and Growth - POTN is pleased to announce today that the Company's subsidiary, Diamond CBD, exhibited last week at the popular ASD Market Week Event in Las Vegas, NV, yielding over $320,000.00 in revenues over the multi-day notable event, well-known to showcase a comprehensive collection of the world's widest variety of popular retail merchandise in one resourceful shopping experience. Drawing a global crowd to the U.S., ASD is popular for bringing over 30,000 on-trend, high margin goods at the lowest wholesale prices in the U.S. Read this and more news for POTN at http://www.marketnewsupdates.com/news/potn.html
"The ASD event is one that our team has come to highly anticipate because of the sheer size, buying power and diverse nature of the crowd. Last season was exciting, but this season we have struck new highs. With over 40,000 in attendance, we landed over $320,000 in sales. A striking success for such a broad audience with a range of interests," stated Maria Gomez, Regional Vice President of Sales of Diamond CBD, Inc. This type of show is substantially valuable to the Company because it not only strengthens Diamond CBD's position against competitors, it also facilitates access to a whole new spectrum of consumers through the introduction to the benefits of CBD as a whole.
Acknowledgement at the Diamond CBD booth was the boldest, biggest statement yet for the growing company. Gomez concluded, "The retailers, wholesalers, distributors and even other exhibitors were enthusiastically impressed and with the fascinating presentation of the products and the distinguished partnerships developed with recognizable talent such as Tommy Chong and Lawrence Taylor."
Boasting 45,000 buyers from 88 countries that visit ASD Market Week each year, showcasing at this event brings thousands of ASD vendors and exhibitors within range for Diamond CBD. Of that number, 98% of attendees have major purchasing power. The average buyer spends $82,500 per show, equating to $2.8 billion annually across hundreds of product categories. Eighty-eight percent of event buyers are domestic and 12% are international. With 9 shows, 19 retail categories and 2,500 vendors, ASD has the widest selection of merchandise in one place at one time.
In other industry developments and market performances of note:
22nd Century Group Inc. (NYSE: XXII) closed even on the day on Monday at $2.47 trading over 21 Million shares by the market close as was up over 3% in afterhours trading. 22nd Century Group recently stated that the Company welcomes the announcement by the United States Food and Drug Administration (FDA) that the Agency is exercising its authority under the Family Smoking Prevention and Tobacco Control Act to mandate lower nicotine - at non-addictive levels - in combustible cigarettes sold in the United States. 22nd Century is already capable of achieving the FDA's ambitious new product standard. As previously reported, 22nd Century is the only company in the world capable of growing tobacco with non-addictive levels of nicotine. The Company's proprietary Very Low Nicotine tobacco is grown on independently-owned farms in the United States - without any artificial extraction or chemical processes.
Amfil Technologies Inc. (OTC: AMFE) closed up over 5% on Monday at $0.207 with over 3.4 million shares traded by the market close. The company recently announced revenues of $6,630,973 for our FYE 2017 up 2376% from Fiscal Year 2016 which posted $279,045 in total revenue. The company saw a gross profit of $3,678,780 and a net income of $248,679. The company as at year end of June 30th 2017 had $267,257 in cash, $4,691,097 in inventory and $6,599,844 in total assets. Read more here: https://finance.yahoo.com/news/amfil-technologies-inc-announces-2017-120000543.html
Grow Condos Inc. (OTC: GRWC) closed up 48.19% at $0.13 on Monday with north of 1.1 million shares traded by the market close, well ahead of the average daily trading volume. Grow Condos operates as a real estate purchaser, developer, and manager of specific use industrial properties in the United States. It provides condo style turn-key grow facilities to support cannabis growers. The company is also involved in the development, lease, ownership, and provision of investment sales opportunities for commercial industrial properties focused in the cannabis production arena. In addition, it offers tenants the option to lease, lease to purchase, or buy the condo warehouse units. Grow Condos, Inc. was incorporated in 1999 and is based in Eagle Point, Oregon.
Cannabis Science Inc. (OTC: CBIS) yesterday provided an update on its second quarter growth and progress. Cannabis Science has made considerable gains in its endeavors to become a seed-to-sale company. In the last quarter, Cannabis Science entered negotiations for two medical marijuana dispensaries in the Los Angeles, California area. Once the deals are closed both dispensaries will be Cannabis Science-branded facilities, and will showcase the Company's products as well as other selected brands. The Company has also targeted additional Pre-ICO medical marijuana dispensaries throughout California for acquisition and integration into Cannabis Science's state-wide distribution network. Read more here: https://finance.yahoo.com/news/cannabis-science-issues-second-quarter-190504299.html
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